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About Universal Sompo Car Insurance

Universal Sompo is a leading general insurance provider offering a range of insurance solutions for varied needs. It is a joint venture between some of the leading names in the industry Indian Bank, Indian Overseas Bank, Karnataka Bank, Dabur India Limited and Sompo Japan. Universal Sompo offers affordable products with comprehensive coverage benefits. Its private car insurance policy is one such product that is designed to provide insurance coverage for your privately-owned four-wheeler.

  1. Universal Sompo’s car insurance policy offers a comprehensive scope of coverage. There are inbuilt coverage benefits, add-ons as well as optional extensions so that you can customize your policy as per your preference and enjoy the widest scope of coverage.
  2. The company has settled more than 90% of its claims successfully. This enhances Universal Sompo car insurance’s Claim Settlement Ratio and bolsters trust in the company.
  3. There are more than 86 branches of the company all over India making it easy for you to get in touch with the company.
  4. Attractive discounts are allowed by the Universal Sompo car insurance plan thereby making the premiums affordable in your pockets.

Universal Sompo Claim Settlement Ratio

91%

Universal Sompo

94.67%

Industry Average

Car claim settlement ratio is the percentage of claims settled against the total claims received by the insurance company in a given fiscal year. Universal Sompo has a claim settlement ratio of 91%, as compared to the industry average of 94.67%.

Universal Sompo Car Insurance Plans Overview

Universal Sompo car insurance offers 2 car insurance plans. The premium of these plans starts from Rs. 1994/yr. Details of the comprehensive coverage provided by the following 2 Universal Sompo car insurance plans are listed below:

Universal Sompo Comprehensive Car Insurance

Starting Premium- ₹ 3,174/yr

There are types of Universal Sompo Comprehensive plan

Comprehensive car insurance policy

A comprehensive car insurance policy is also known as a package policy because of the wide scope of coverage that it offers. The comprehensive car insurance policy covers third-party liability and own damages

Universal Sompo Third Party Car Insurance

Starting Premium- ₹ 1,994/yr

There are types of Universal Sompo Third Party plan

Third-party liability only

Third-party liability only policy fulfils the mandatory requirement under the Motor Vehicles Act, 1988 for a third party cover. The plan covers legal liabilities incurred in the case of third party damages due to an accident.

Universal Sompo car insurance offers two types of third-party policies:

  • One year liability only policy-One-year liability only policy covers third party liabilities for a period of one year.
  • Long term liability only policy-Long term liability only policy covers third-party libraries for a period of 3 years. This policy is available only for new cars.

Universal Sompo Premium Calculator

Use our Universal Sompo car insurance premium calculator to estimate Universal Sompo car insurance premium for your car within 30 seconds

Add-ons Available Under Universal Sompo Car Insurance Plans

Add-ons are additional coverage benefits which can be chosen voluntarily by paying an additional premium. Add-ons help increase the scope of coverage of the Car insurance policy. Universal Sompo Car insurance plans offer the following types of add-ons with the comprehensive policy:

Car insurance policies do not cover depreciation. At the time of the claim, the insurance company deducts the depreciation on different parts of the car thereby lowering your claim amount and leading to out of pocket expenses. In such an instance, the nil depreciation cover is beneficial. The add-on removes the deduction of depreciation and enhances the claim pay-out.

Daily cash allowance provides a daily allowance if your car is at an authorised workstation for the repair of damages if the claim is covered in the policy. If your car is at the service station for more than 3 days, you would get a daily benefit for up to 5 days.

The Insured Declared Value of the car insurance policy is paid if your car is stolen or is damaged beyond repairs. IDV is the market value of your car after accounting for depreciation. However, with the return to invoice add-on, you can claim the invoice value of your car provided that your car is not older than 5 years.

Engine protector add-on covers the expenses of replacement or repair of the engine parts due to consequential damages such as water ingression due to flood or leakage of lubricating oil.

No claim bonus protector protects the no claim bonus discount which you have earned for not making claims in previous policy years. In the case of a claim, the bonus becomes zero but if you opt for this add-on, your bonus is retained even after you have made a claim.

Under hydrostatic lock cover, the insurance company will pay for the damages arising out of replacement or repair of the engine part of the car due to hydrostatic lock or water ingression in the engine.

Secure towing rider covers an increased cost of towing and removing the damaged vehicle to the nearest workshop as well as re-delivery of the car after repairs.

In the case of accidental death or permanent total disability suffered by the owner, the insurance company will pay education fees of the named child/children, subject to terms and conditions of the add-on.

Roadside assistance add-on is useful if your car faces a breakdown and is not in a condition to be taken to the nearest garage. Universal Sompo car insurance provides 24/7 roadside assistance for flat tyre service, emergency towing assistance due to breakdown or accident, electrical breakdown, fuel delivery, etc. It also provides accommodation and cab service as an alternate mode of transport if you are stuck in the middle of the road.With this add-on, you can cover the cost to replace the lock and key of your vehicle if it is broken or stolen and the labour cost for opening the vehicle if you have lost the keys of the car.

A car insurance policy does not cover the cost incurred on consumables in case of repair of the car. The cost of consumables add-on covers the expenses incurred towards consumables.

This add-on provides compensation up to INR 500 to the policyholder for obtaining a duplicate licence or a duplicate registration certificate.

Under this add-on, the sum insured is expressed as the difference between the IDV and the manufacturer’s selling price. This add-on, therefore, gives you a higher amount of coverage.

Under this add-on, a daily benefit of Rs 2,000 per day for a maximum of 30 days of hospitalization is covered if you are hospitalized following a car accident.

Under this add-on, you can get the reimbursement of the hospitalization expenses of any family member who is an accidental injury when travelling in the car.

This add-on covers the cost of accommodations for overnight stay or cab expenses to travel to your place of residence in the event of an accident in which it is impossible to drive your vehicle or if your car is stolen.

This add-on is an additional benefit in case of accidental injury leading to death or permanent total disablement. The benefit paid under this add-on will be in addition to the benefit paid under the mandatory personal accident cover available under car insurance plans.

Personal belongings such as clothes, baggage, phone, bag, etc. belonging to you or your dependent family members are covered under this add-on. If the personal belongings are stolen from your car, the insurance company will pay INR 500 for each claim.

This add-on provides additional coverage for a named family member in case of accidental death or accidental permanent total/ partial disability in any accident involving the car.

This add-on provides coverage against assault or bodily injuries leading to permanent total disability or death in an accident whether you are travelling in the insured vehicle or not.

Electrical/ mechanical breakdown is one of the common exclusions in car insurance policies. If you buy this add-on then the insurance company will pay you for the cost of repairs if your car suffers a breakdown due to electrical or mechanical defaults.

Features Of Universal Sompo Car Insurance Plans

Benefits of Universal Sompo Car Insurance

Here are some of the benefits that you can avail yourself from Universal Sompo’s car insurance policy:

  1. There are different types of coverage options offered by the company. You can choose any policy as per your needs.
  2. The coverage available under Universal Sompo car insurance plans is inclusive while the premiums are affordable.
  3. There are add-on covers as well as optional extensions that allow you to enhance the scope of coverage of your policy.
  4. You can claim attractive premium discounts to reduce the premiums and save money on car insurance plans.

Features of Universal Sompo car insurance

  1. Mandatory coverage

The mandatory third party liability cover, as required under the Motor Vehicles Act, 1988, is provided by Universal Sompo car insurance plans. You can, thus, protect yourself against third party liabilities by availing the mandatory coverage.

  1. Incurred Claims Ratio (ICR)

The ICR measures the ratio of the claims paid against the premium earned by the company. For the financial year 2019-20, Universal Sompo’s Incurred Claims ratio stood at 73.14% (IRDAI Annual Report 2019-20).

  1. Personal accident cover

Universal Sompo offers the mandatory personal accident cover with its car insurance policy. You can opt for this cover if you don’t have personal accident insurance and get protected against accidental deaths and disablements.

  1. Network garages

The company is tied up with more than 3500 garages across India so that you can avail of cashless repairs easily.

  1. No claim bonus

You earn a no claim bonus for every claim-free year in your car insurance policy. This bonus goes up to 50% and allows you a discount on the renewal premium.

Universal Sompo car insurance plans have various types of offers. These include the following

  • You can opt for four different optional extensions under the policy. These extensions include coverage for loss of accessories, personal accident to the occupants of the car, legal liability to paid workers, driver or cleaner, increased legal liability for third party property damage.
  • You can get up to a 50% no claim bonus if you don’t make claims for five successive years.
  • Various discounts are allowed under the policy. These are as follows
    • Discount for choosing a voluntary excess
    • Discount for modified vehicles for disabled, blind or physically challenged
    • Discount for installing anti-theft devices

Other facts to know about Universal Sompo car insurance plans

  • Premium concession is allowed for the disabled, physically challenged and blind policyholders
  • The depreciation rate for the various parts of the car is clearly defined
  • The no-claim bonus starts at 20% for the first claim-free policy year
  • To connect with the company, you can call the toll-free number 1800 22 4030 or 1800 200 4030. Alternatively, you can also send an email to contactus@universalsompo.com and the company would get in touch with you.

Exclusions Under Universal Sompo Car Insurance Plans

In spite of such wide coverage benefits, there are certain events which are not covered under car insurance plans and are called policy exclusions. Exclusions of Universal Sompo car insurance are as follows:

  1. Any damage or loss or liability arising due to an accident outside the geographical area or boundaries of India
  2. A claim arising due to any contractual liability between the policyholder and any other third party
  3. Normal wear and tear or general ageing of your car
  4. Depreciation of your car
  5. Liabilities arising due to an accident suffered when you were driving the vehicle without a valid driving licence
  6. Damages or losses suffered at the time of driving the vehicle under the influence of alcohol or drugs
  7. Accidents suffered when your car insurance policy has lapsed or is due for renewal
  8. Accidental losses or liabilities arising when the car is being used otherwise than in accordance with the limitations as to use
  9. Liabilities directly or indirectly caused by or arising from nuclear risks
  10. Accident suffered if your car is used for criminal or illegal activities
  11. Electrical or mechanical breakdown of your car
  12. Damages suffered due to certain man-made causes such as strike, war, mutiny, rebellion, invasion, etc.
  13. Consequential losses
  14. Regular servicing costs

How To Raise A Claim Under Universal Sompo Car Insurance

The claim process is as follows

  1. Immediately inform the insurance company in the case of any claim. You can intimate the claim by informing the insurance company online or by calling on their toll-free number.
  2. The insurance company will then advise you to take your car to the nearest preferred garage.
  3. A surveyor would be sent by the insurance company at the garage who will check the damages caused to your car.
  4. Once the survey is done, the insurer would approve cashless claims after which the grace would start the repairs.
  5. After completion of the repair, the insurance company will settle the claim directly with the network garage and allow you to take the delivery of your car.
  6. A police FIR is required to be filed in case of third party claims. The third-party claim is handled by the Motor Accident Tribunals to calculate the liability involved in the claim. The insurance company will pay the third party claim based on the judgement of the tribunal.
  7. A police FIR is also required if your card is stolen and you want to make a theft claim. If the police are unable to find your car, they would issue a certificate stating that your car is untraceable. Submit the certificate to the insurance company based on which it will pay a theft claim.
  8. If you get your car repaired at a non-networked garage, you would have to pay for the repair costs. After the car is repaired, collect all the bills and file your claim. Submit the original bills to the insurance company and the company would reimburse you for the costs incurred.

Alternatively, you can intimate Turtlemint of your car insurance claim. Turtlemint has an expert claim assistance team that helps you get your claims settled quickly and effortlessly. All you have to do is visit https://www.turtlemint.com/raise-claim/ and click on ‘Raise Claim’. Then, choose ‘Car’ as the product, the name of the insurer, policy number, claim details and your contact information. Submit the details and Turtlemint would handle your car insurance claim. You can also call 1800 266 0101 or send an email to support@turtlemint.com for any assistance that you need at the time of claims

Universal Sompo Customer Care

Customer Care Number

Universal Sompo Car Insurance Renewal Process

You can renew your car insurance policy online by visiting the website of the insurance company. All you have to do is provide your existing policy number to view your coverage details. If you want, you can make changes with respect to your coverage. Once you have verified the coverage details, the renewal premium would be calculated. Pay the renewal premium and your policy will be renewed instantly.

Alternatively, you can also do Universal Sompo car insurance renewal online through Turtlemint. With Turtlemint’s platform, you can compare other car insurance plans at the time of renewals and choose the best policy. Just enter your car details and you can check the various car insurance plans available in the market. Compare and select a plan, provide the details of your last policy, pay the premium and the coverage would start immediately.

If you have bought your Universal Sompo car insurance policy from Turtlemint, all you have to do is log into your account, pick the plan, pay the renewal premium and the policy would be renewed instantly.

FAQs

The depreciation rates are determined differently for different parts of the car. The applicable rates are as follows

  • Nylon, rubber, and plastic parts – 50%
  • Tyres and tubes – 50%
  • Car battery and airbags – 50%
  • Fibreglass parts – 30%
  • All other parts, including wooden parts – 5% to 50% depending on the car’s age
  • Painting – 50%

Under the personal accident cover, 100% of the personal accident sum insured, i.e. INR 15 lakhs, is paid on accidental death and total permanent disablement. In the case of partial disablement, however, 50% of the sum insured is paid.

The no-claim bonus rates are as follows

Number of claim-free years No claim bonus rate
1 claim-free year 20%
2 successive claim-free years 25%
3 successive claim-free years 35%
4 successive claim-free years 45%
5 successive claim-free years 50%

Yes, you can buy only third party cover which is the legal requirement for driving your car on the road. However, if your car suffers any damage or is stolen, you would incur financial costs. Thus, it is better to opt for a comprehensive policy for an all-around coverage benefit.

Towing charges are covered for up to INR 1500.
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